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DSS
i. Market Analysis:
Data Mining can predict the market that helps the business to
make the decision. For example, it predicts who is keen to
purchase what type of products.
ii. Fraud detection:
Data Mining methods can help to find which cellular phone
calls, insurance claims, credit, or debit card purchases are
going to be fraudulent.
1. Model Building -
DSS aids in the decision-making process by identifying the
most appropriate model for solving problems. It considers
the input variables, inter relationship among the variables,
problem assumption and constraints to design a suitable
model.
For example : A television manufacturing company has given
the responsibility to its marketing manager to develop a sales
forecasting model is for colour TV sets.
1. Facilitating Communication -
DSS helps in indicating when a particular action should be
adopted in future or why a particular action was acceptable
in the past. The DSS facilitates interpersonal communication
and hence it is used as a tool for benefit of business.
2. Increasing Organisational Control -
DSS control this information, which is in turn used by the
managers in assessing the productivity of an individual in the
quantity and quality of their decision making ability. Some
DSS can evaluate the individual's decision making skills.